8,061 Shares in Republic Services, Inc. $RSG Bought by Triton Financial Group Inc

Key Points

• Triton Financial Group Inc acquired 8,061 shares of Republic Services, valued at approximately $1,988,000, marking it as their 21st largest holding.
• Republic Services recently increased its quarterly dividend to $0.625, reflecting a positive trend with a 1.1% yield.
• The company's stock has a market capitalization of $68.73 billion and is currently showing a consensus target price of $257.10 from analysts.

Triton Financial Group Inc purchased a new position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 8,061 shares of the business services provider's stock, valued at approximately $1,988,000. Republic Services makes up 1.4% of Triton Financial Group Inc's portfolio, making the stock its 21st biggest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its stake in Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after acquiring an additional 106 shares in the last quarter. Capital Management Associates Inc acquired a new stake in Republic Services during the 1st quarter worth $314,000. Sumitomo Mitsui Trust Group Inc. raised its stake in Republic Services by 0.7% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 563,253 shares of the business services provider's stock worth $136,397,000 after acquiring an additional 4,110 shares in the last quarter. GAMMA Investing LLC raised its stake in Republic Services by 61.6% during the 1st quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider's stock worth $2,226,000 after acquiring an additional 3,503 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Republic Services by 10.0% during the 1st quarter. BNP Paribas Financial Markets now owns 479,222 shares of the business services provider's stock worth $116,048,000 after acquiring an additional 43,387 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Stock Up 0.1%

Shares of NYSE:RSG opened at $220.13 on Tuesday. The company has a market cap of $68.73 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 3.56 and a beta of 0.59. The firm's 50-day simple moving average is $228.57 and its 200-day simple moving average is $238.93. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04. Republic Services, Inc. has a fifty-two week low of $197.60 and a fifty-two week high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last issued its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.01. The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.26 billion. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The business's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.61 earnings per share. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, equities research analysts predict that Republic Services, Inc. will post 6.86 earnings per share for the current year.

Republic Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.1%. This is a positive change from Republic Services's previous quarterly dividend of $0.58. The ex-dividend date was Thursday, October 2nd. Republic Services's dividend payout ratio (DPR) is 36.98%.

Insider Activity

In related news, major shareholder Cascade Investment, L.L.C. acquired 4,258 shares of Republic Services stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $234.91 per share, for a total transaction of $1,000,246.78. Following the completion of the purchase, the insider directly owned 109,816,832 shares of the company's stock, valued at approximately $25,797,072,005.12. This trade represents a 0.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregg Brummer sold 7,338 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the completion of the sale, the executive vice president owned 4,060 shares of the company's stock, valued at $949,796.40. This trade represents a 64.38% decrease in their position. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RSG. National Bankshares lowered their price objective on shares of Republic Services from $270.00 to $241.00 and set a "sector perform" rating on the stock in a research report on Tuesday, October 7th. Scotiabank set a $250.00 price objective on shares of Republic Services in a research report on Friday, October 10th. Raymond James Financial set a $260.00 price objective on shares of Republic Services and gave the stock an "outperform" rating in a research report on Monday, October 6th. BMO Capital Markets raised their price objective on shares of Republic Services from $280.00 to $284.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, Stifel Nicolaus began coverage on shares of Republic Services in a research report on Monday, September 29th. They set a "buy" rating and a $257.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $257.10.

Republic Services Company Profile

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.

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